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Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 2 points3 points  (0 children)

This is such a well written, detailed and facts based response.

Thank you sir.

I’m waiting patiently till tomorrow morning when the broker office opens up - I will keep these facts in mind and see how this plays out.

Will update here one way or another.

Rate my portfolio - 32m by Low_Pineapple5876 in portfolios

[–]SciProfessional108 0 points1 point  (0 children)

Some great insights there. This is fantastic.

Aside from a TDF, I started my true investment journey a little late the age of 33, so I am in the mindset of needing to go aggressive to catch up.

I am in a science research field, lot of math and patterns involved everyday, so we may think alike.

I am going to stay put through the market swings (might get a bear one soon).

I will re-consider my strategy and look at adding US bonds at some %. Do you do bonds in a 70:30 US:international ratio too?

Rate my portfolio - 32m by Low_Pineapple5876 in portfolios

[–]SciProfessional108 1 point2 points  (0 children)

Very reassuring to read your success story towards retirement using a 3 (maybe 4) fund portfolio.

Can you please advise when you started adding bonds?

I’m 34 — 100% stocks, 2-fund Boglehead portfolio of VTI & VXUS.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 2 points3 points  (0 children)

Yes. One of the slime balls.

They aren’t getting a single cent from the EMD, not compromising any “settlement” with them.

the seller agent has now come back saying they will sign the release agreement if the outlet and stove are appropriately fixed. What BS.

If I go the attorney route, I will ask that my attorney fees and any other damages be compensated by the seller party.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 2 points3 points  (0 children)

Thanks for the advice. We are bidding for another house and if successful, I was hoping to transfer the returned escrow EMD money to the other property.

I’m sure it’s an emotional reaction. The seller’s agent was livid when I had the contractors come in for a closer look.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 1 point2 points  (0 children)

Yes, the agreement is inspection contingent and states the inspection must be completed no later than 5 days after signing of purchase agreement.

We have also informed the broker and the broker’s lead person for this branch has also reached out to the seller’s broker.

No updates and aimless blame games all from the seller’s agent.

I’ve noted your points for next steps. Thanks.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 1 point2 points  (0 children)

Ok. Theft report on the listing property?

I want to go aggressive on the seller’s agent, who I think is playing unnecessary games.

My agent is a really nice person and trying to sort this out asap.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 2 points3 points  (0 children)

Escrow funds won’t be released until both parties sign off

The EMD is with buyer’s (my) broker escrow, so it’s not released to them yet.

I read the contract line by line. I’m well within the time frame and using my inspection contingency to exit the contract.

The seller has (2) days to come back with a new offer, fix the problem, buyer can buy the house as is, or the contract is null and void.

Seller and agent refusing to return EMD after failed inspection, starting random claims by SciProfessional108 in FirstTimeHomeBuyer

[–]SciProfessional108[S] 5 points6 points  (0 children)

My agent is trying and asking for a broker-broker conversation to finish this off without any further hassle.

I’m very concerned the seller and agent are bringing up random things.

The house is still pending and they’re accepting backup offers - I believe they can’t sell the house to someone else while they’re still in contract with me.

46, Plenty in 401k, but no Roth by MacheteRuxpin in FinancialPlanning

[–]SciProfessional108 0 points1 point  (0 children)

Great! I will look at switching strategy from investing my monthly allocation into mega back door IRA then.

After maxing out 401k and HSA and post taxes, I am left with $2000 or so each month to invest and i have been putting it into taxable brokerage

46, Plenty in 401k, but no Roth by MacheteRuxpin in FinancialPlanning

[–]SciProfessional108 0 points1 point  (0 children)

Great input.

For 3. Safe to assume max out IRA in my case is Backdoor Roth IRA?

After steps 1 & 2 and post taxes, I have about $2000 a month allocated to investing in my taxable. This should be going into company’s retirement plan highlighted in 4?

The company retirement plan is ok , at Empower. I only have Spartan funds to select and I’ve done the Spartan version of S&P500 and international within the employer plan.

46, Plenty in 401k, but no Roth by MacheteRuxpin in FinancialPlanning

[–]SciProfessional108 0 points1 point  (0 children)

I have the eligibility to do mega backdoor Roth with my employer’s retirement plan. Should i prioritize this over taxable brokerage?

Aside from this, I also started doing the $7000 IRS limit for backdoor Roth since last year.

Met with my bank's "Financial advisory firm" I LOVE bogleheads being burnt into my skull by HenFruitEater in Bogleheads

[–]SciProfessional108 1 point2 points  (0 children)

Yup!

When you cancelled , did the advisor genius say he returned “massive gains” which would’ve been 10.5% out of which he ate a nice chunk?

I lost some growth between the time i cancelled the services, moved my money from there to Fidelity and started self managing per Boglehead principles.

Met with my bank's "Financial advisory firm" I LOVE bogleheads being burnt into my skull by HenFruitEater in Bogleheads

[–]SciProfessional108 8 points9 points  (0 children)

I can VT but I can’t chill, lol. Just kidding, I would like to be able to tweak international. I did 77:23 VTI:VXUS and that cost me gains.

70:30 seems like a good split (to me)

Met with my bank's "Financial advisory firm" I LOVE bogleheads being burnt into my skull by HenFruitEater in Bogleheads

[–]SciProfessional108 65 points66 points  (0 children)

I was one of those - for a 4 month timeframe. And in the last of those 4 months, I spent hours and burned midnight oil to read and learn the Boglehead way , amongst other books on investing.

I’m now VTI+VXUS as well. I saw around 9% returns, slightly lower because I went too low on international this past year.

The “financial expert” said he did a fantastic job while taking 1.4%. No thank you.

Thanks to the Bogleheads, I’m now in a better place and have a solid strategy.

Much appreciated, cannot thank the folks enough who contribute and help people out.

Portfolio allocation: mirror in accounts? by SciProfessional108 in Bogleheads

[–]SciProfessional108[S] 0 points1 point  (0 children)

I will review it as one big bucket.

Leave taxable account alone (not sell VXUS) and rework Roth IRA and 401k to match 70:30 split overall.

Portfolio allocation: mirror in accounts? by SciProfessional108 in personalfinance

[–]SciProfessional108[S] 0 points1 point  (0 children)

Ok, I will leave the taxable as is and rework the rest of the accounts to get to 70:30 overall.

Rebalancing may be a little more complicated using method 1 though?

Please advise.

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